tru Independence LLC Lowers Holdings in Truist Financial Co. (NYSE:TFC)

tru Independence LLC reduced its stake in shares of Truist Financial Co. (NYSE:TFC) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,704 shares of the insurance provider’s stock after selling 3,191 shares during the quarter. tru Independence LLC’s holdings in Truist Financial were worth $5,039,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Crewe Advisors LLC purchased a new position in shares of Truist Financial during the 1st quarter valued at approximately $27,000. Opal Wealth Advisors LLC purchased a new position in Truist Financial in the first quarter valued at $29,000. MFA Wealth Advisors LLC purchased a new stake in shares of Truist Financial during the 2nd quarter worth about $30,000. Missouri Trust & Investment Co grew its position in shares of Truist Financial by 227.2% during the 4th quarter. Missouri Trust & Investment Co now owns 854 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 593 shares during the period. Finally, Rise Advisors LLC purchased a new position in shares of Truist Financial in the 1st quarter valued at about $32,000. 71.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TFC has been the topic of several research analyst reports. Argus raised their price objective on Truist Financial from $44.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley lifted their price target on shares of Truist Financial from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Barclays upped their price objective on shares of Truist Financial from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Wolfe Research upgraded shares of Truist Financial from an “underperform” rating to a “peer perform” rating in a research report on Friday, August 9th. Finally, Robert W. Baird cut shares of Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.30.

Insider Transactions at Truist Financial

In other Truist Financial news, VP Cynthia B. Powell sold 6,688 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Cynthia B. Powell sold 6,688 shares of Truist Financial stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $44.14, for a total value of $295,208.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William H. Rogers, Jr. purchased 57,300 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were purchased at an average price of $43.96 per share, for a total transaction of $2,518,908.00. Following the completion of the purchase, the chief executive officer now directly owns 569,271 shares of the company’s stock, valued at $25,025,153.16. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Truist Financial Stock Down 2.5 %

Shares of NYSE:TFC opened at $42.06 on Friday. Truist Financial Co. has a 52-week low of $26.57 and a 52-week high of $45.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $42.24 and a two-hundred day moving average of $39.08. The stock has a market cap of $56.32 billion, a P/E ratio of -31.86, a PEG ratio of 2.05 and a beta of 1.06.

Truist Financial (NYSE:TFC) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.83 billion. Truist Financial had a negative net margin of 5.63% and a positive return on equity of 9.18%. The business’s revenue was down 15.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. On average, research analysts expect that Truist Financial Co. will post 3.55 earnings per share for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Friday, August 9th. Truist Financial’s dividend payout ratio (DPR) is presently -157.58%.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.